Spirit of America Management Corp NY Sells 15,900 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Spirit of America Management Corp NY decreased its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 7.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 187,070 shares of the computer hardware maker's stock after selling 15,900 shares during the period. NVIDIA accounts for 4.1% of Spirit of America Management Corp NY's portfolio, making the stock its largest position. Spirit of America Management Corp NY's holdings in NVIDIA were worth $20,275,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NVDA. Tacita Capital Inc bought a new position in NVIDIA in the 4th quarter valued at about $28,000. Vision Financial Markets LLC acquired a new position in shares of NVIDIA during the fourth quarter valued at approximately $38,000. Copia Wealth Management bought a new stake in NVIDIA during the fourth quarter worth approximately $50,000. Bruce G. Allen Investments LLC raised its holdings in NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after purchasing an additional 327 shares in the last quarter. Finally, LSV Asset Management bought a new position in NVIDIA during the 4th quarter valued at $54,000. Institutional investors and hedge funds own 65.27% of the company's stock.

Insider Buying and Selling

In related news, EVP Ajay K. Puri sold 168,195 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president directly owned 4,018,547 shares of the company's stock, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the sale, the director owned 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,520,246 shares of company stock valued at $660,253,045 in the last three months. 4.17% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of research reports. HSBC downgraded NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a research note on Thursday, April 3rd. Oppenheimer reissued an "outperform" rating and issued a $175.00 price target on shares of NVIDIA in a report on Monday, June 16th. Bank of America boosted their target price on shares of NVIDIA from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Wedbush restated an "outperform" rating on shares of NVIDIA in a report on Thursday, May 29th. Finally, Summit Insights raised NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $177.03.

NVIDIA Stock Up 0.5%

Shares of NVDA traded up $0.86 during midday trading on Friday, reaching $164.96. 174,573,520 shares of the stock were exchanged, compared to its average volume of 266,405,222. The company has a market cap of $4.03 trillion, a price-to-earnings ratio of 53.21, a P/E/G ratio of 1.44 and a beta of 2.13. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $167.84. The firm has a 50 day simple moving average of $140.52 and a 200-day simple moving average of $128.60.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same quarter last year, the firm earned $0.61 earnings per share. NVIDIA's revenue was up 69.2% compared to the same quarter last year. Research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's payout ratio is 1.29%.

NVIDIA Company Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.